The Ripple lawsuit is (almost) over, and that’s big news for XRP and potential ETFs. Nate Geraci, an ETF expert, thinks this clears the path for XRP ETFs to finally get approved. He even suggests that BlackRock might jump in on the action.
Ripple Drops Appeal, Paving the Way for XRP ETFs
Ripple’s decision to drop its appeal against the SEC is a game-changer. Geraci says this means the SEC can now focus on approving applications for XRP ETFs. This follows Ripple CEO Brad Garlinghouse’s announcement that they’re closing this chapter and moving on. Previously, experts like Bloomberg analyst James Seyffart believed an XRP ETF was impossible until the lawsuit ended. The SEC had been delaying decisions on XRP ETF applications, unlike other crypto ETFs like Solana, which are closer to approval.
BlackRock Might Enter the XRP ETF Race
Geraci also predicts that BlackRock, the giant asset management company, might finally apply to offer an XRP ETF. While they already offer Bitcoin and Ethereum ETFs, they’ve held back on others, including XRP. Other companies have already applied, but BlackRock’s entry would be huge. Bloomberg analysts are optimistic, predicting a 95% chance of SEC approval for various crypto ETFs this year.
The Current XRP Price
At the time of writing, XRP is trading around $2.19, showing a slight increase over the past 24 hours.